Author: admin

Biden Shoots for the Stars With Astronomical Spending Proposals

And this is only the beginning of his big-government aspirations. Some emergencies require an increase in government spending, but that comes with an understanding that the higher levels of spending are unusual and will not be sustained. Unfortunately, this understanding seems to be lost on the Biden administration. Exhibit A is his proposed $6 trillion budget […]

Biden’s bloated budget risks the long-term health of the economy

A president’s budget proposal is a political document, the first step in a months-long negotiation with Congress. While it’s not surprising that President Biden’s first budget includes new spending seemingly aimed at pleasing key voting blocs, the scale of his $6 trillion spending plan is both unprecedented and risky. Biden’s budget would rack up record-shattering […]

Debt And Dollar Depreciation

Summary The federal debt is $28.3 trillion and rising. The trade deficit is worsening. Inflation has arrived. The US dollar is depreciating.   Photo by DNY59/E+ via Getty Images   This article considers the present plight of the US dollar with respect to the federal debt, the trade deficit, inflation and depreciation. Investors should pay […]

Deficit will hit $3.6 trillion in fiscal year 2021 as $7.27 trillion of the national debt will come due in the next year

The annual budget deficit has already hit $1.9 trillion and counting for the fiscal year that will end in September, according to the U.S. Treasury’s April statement, and it will reach as high as $3.6 trillion this year, says the White House Office of Management and Budget (OMB). Comparatively, in 2020, the deficit totaled about […]

Here Are 3 Glaring Consequences of the $6 Trillion Budget Biden Just Proposed

History will not remember President Biden for his frugality. The president has already signed into law a massive multi-trillion-dollar “COVID” stimulus spending package and proposed trillions more in “infrastructure” spending. Now, the White House has released its budget request for Fiscal Year 2022—a stunning $6 trillion. “President Biden will propose a $6 trillion budget on Friday that would take the […]

Social Security, Medicare should not be cut for deficit woes: AARP

Conservative lawmakers have proposed slashing $14T from the nation’s budget Congress should reject any effort by lawmakers to slash funding for Social Security and Medicare in order to reduce the nation’s ballooning budget deficit, AARP said Wednesday. “Targeting Social Security and Medicare to pay down the national debt is the wrong approach and is strongly […]

House GOP wants to designate debt a ‘security threat’ after voting to increase it

Most GOP backers of a resolution to declare the national debt a ‘national security threat’ also backed Donald Trump’s tax cuts. Rep. Andy Biggs (R-AZ) wants Congress to declare the U.S. national debt a “threat to the national security of the United States” and to commit to “addressing the fiscal crisis.” But he and most […]

Wall Street is facing a $9 trillion problem

London (CNN Business)Central banks were the superheroes of the early phase of the pandemic, taking dramatic steps to save the economy and financial markets from ruin. Now, as the recovery kicks into gear, they’ve become a major risk for investors. What’s happening: The latest reading of the Back-to-Normal Index from CNN Business shows that the US economy’s comeback is […]

Unconstitutional debt and future generations | Napolitano

Earlier this week, President Joseph R. Biden Jr. asked Congress to raise taxes and increase borrowing so his administration can spend $2.3 trillion — on top of the $1.9 trillion Congress authorized two months ago for so-called COVID relief — for thousands of projects he calls “infrastructure.” All this is in addition to the $2 […]

Sens. Scott, Lummis: Our national debt is almost $30 trillion — let conservative states lead on reducing it

As a former governor and a former state treasurer, we know what it takes to balance a budget By Rick Scott, Sen. Cynthia Lummis | Fox News With our national debt nearing a staggering $30 trillion, one would think that President Joe Biden would be ready to take a hard look at our spending and find ways to reduce […]